- Hot Chili (HCH) acquires 100 per cent of the world-class Cortadera copper-gold discovery in Chile
- The acquisition was completed following acknowledgement of the final US$15 million (A$20.7 million) payment
- Since February 2019, Hot Chili has paid US$32 million (A$44.2 million) to acquire Cortadera from SCM Carola
- Following the start of work in 2019, Cortadera has transformed from a small private porphyry discovery to one of the world’s top copper-gold discoveries
- Hot Chili is up 8.11 per cent on the market with shares trading at four cents at 12:02 pm AEST
Hot Chili (HCH) has acquired 100 per cent of the world-class Cortadera copper-gold discovery in Chile.
The acquisition was completed following acknowledgement of the final US$15 million (A$20.7 million) payment.
Since February 2019, Hot Chili has paid US$32 million (A$44.2 million) to acquire Cortadera from SCM Carola.
Following the start of drilling in April 2019, Cortadera has been transformed from a small private porphyry discovery to one of the world’s leading copper-gold discoveries.
Managing Director Christian Easterday said the full acquisition of Cortadera was a milestone for the company.
“We are extremely pleased to move to full ownership of Cortadera almost one year ahead of scheduled, given the success of our exploration to date,” Mr Easterday said.
“Cortadera is already one of the lowest-cost acquisitions in the copper sector and we believe it has a long way to grow.
“The project is shaping up as a cutting-edge, new generation major copper development in the world’s largest copper producing country.”
Hot Chili is up 8.11 per cent on the market with shares trading at four cents at 12:02 pm AEST.